Central Bank is offering a new 18-month special CD rate. It has a 1.15% APY, and them minimum deposit is $2,500. There are also a special 2-year CD with a 1.25% APY and a special money market account with a top rate of 1.00% APY for a $100K minimum (0.80% for $25K and 0.90% for $50K). These rates are listed at the bank's rate table as of 1/6/2012.
My last report on this bank was last February when it was offering special 7-month CD. Its short-term CD rates are no longer competitive.
It appears a branch visit is required at Central Bank to open an account. It's a small one-branch bank located in Tampa, Florida.
Central Bank has improved its financial health quite a bit in the last year. It now has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 1.59% (excellent) based on September 2011 data. Please refer to our financial overview of Central Bank for more details. The bank has been a FDIC member since 2007 (FDIC Certificate # 58377).
Other CD Deals in the Tampa Metro Area
If you're looking for long-term CDs in the Tampa metro area, one of the best deals continues to be at Raymond James Bank which is offering a 2.05% APY 5-year CD, a 1.75% APY 4-year CD and a 1.55% APY 3-year CD as of 1/6/2012 (see see my review).
Century Bank of Florida which has a branch in Tampa also has competitive long-term CD rates as of 1/6/2012. These include a 2.02% APY 5-year CD and 1.76% APY 4-year CD.
How Central Bank's 18-Month CD Rate Compares
There are only two nationally available CDs with terms around 18 months that have rates significantly higher than this Central Bank CD special. Alliant Credit Union still offers a 1.35% APY 18-month CD ($25K minimum). Incredible Bank still has a 1.20% APY 19-month CD. These rates are accurate as of 1/6/2012.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.